MYR Group Inc. reported a strong third quarter with record net income and EBITDA, driven by increased revenues in both its Transmission & Distribution and Commercial & Industrial segments. The company benefited from improved gross margins due to better productivity and favorable project outcomes, positioning it well for future growth amidst strong long-term demand for electrical infrastructure.
Record quarterly net income of $32.1 million, an increase from $10.6 million in the prior year quarter.
positiveRecord quarterly EBITDA of $62.7 million, up from $37.2 million in the prior year quarter.
positiveConsolidated gross profit increased to $111.9 million from $77.3 million year-over-year, with gross margin improving to 11.8% from 8.7%.
positiveTotal backlog increased to $2.66 billion as of September 30, 2025, up from $2.60 billion in the prior year.
positiveSelling, general and administrative expenses increased to $65.9 million from $57.5 million year-over-year, primarily due to higher employee incentive compensation and growth support expenses.
attentionInterest expense increased to $4.8 million in the first nine months of 2025 from $4.3 million in the prior year, due to higher average outstanding debt balances.
attentionIncome tax expense increased significantly to $33.0 million in the first nine months of 2025 from $5.2 million in the prior year, impacting net income.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Transmission & Distribution | N/A | — | — | — |
Commercial & Industrial | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Our third quarter performance resulted in quarterly revenues of $950 million and year-over-year increases in net income, consolidated gross profit, gross margin, and EBITDA.
By enhancing relationships with our preferred customers and expanding work in our core markets, we continue to capitalize on strong long-term growth opportunities.
The accelerating pace of electrification, future project demand, load growth, and the need for resilient infrastructure are driving investment in electrical infrastructure, which positions us well for continued success in the future.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.